Chip Designer

: But chip designer Arm is bucking the trend after better than expected first quarter figures, despite news overnight that semiconductor group Intel planned to slash 12,000 jobs worldwide and reported lower than expected earnings, according to The Guardian. Arm has reported a 14% rise in profits to £137.5m, and it said it expected full year results to be in line with expectations. A slump in the Chinese market on fears of a clampdown by the authorities on excessive borrowing has not helped sentiment. The iPhone supplier, which has been hit recently by concerns of a slowdown in smartphone sales, said royalties had risen 15% year on year but down 2% quarter on quarter. The positive results have seen Arm shares jump 2.8% to 990.5p. It has moved into servers to boost growth, and should also benefit from the move to the Internet of Things. (news.financializer.com). As reported in the news.